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it could increase deficits in the second decade. >> i think it will be the opposite. it will generate more revenue. it will add $700 billion in new revenues to help us pay down the debt. i believe, spending cuts can get us to a balanced budget. >> you think by the second decade it will raise revenues because of the dynamics. >> in the first decade. >> you drew a parallel to the 1986 tax reform under president reagan. one of the differences is that under that measure, the earned income tax credit for the poor was vastly expanded. under this proposal it would be cut back. a woman making a minimum wage of $17,000, she will lose $2000 in 4-5 years. should the poor have to pay the burden? >> they do not. everyone making up to $100,000 sees a tax cut. and, average family takes home -- >> that is cut back a little bit. shouldn't that be expanded rather than cut back? >> it is not. in my view, it was supposed to offset the payroll tax. unfortunately it has gone beyond that. it is refocus back on making sure a roll taxes taxes are offset. it is phased out later so more familie
it could increase deficits in the second decade. >> i think it will be the opposite. it will generate more revenue. it will add $700 billion in new revenues to help us pay down the debt. i believe, spending cuts can get us to a balanced budget. >> you think by the second decade it will raise revenues because of the dynamics. >> in the first decade. >> you drew a parallel to the 1986 tax reform under president reagan. one of the differences is that under that measure, the...
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the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive games and until they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to be a myth. all right more of tonight's big picture politics panel right after the break. to. see. if. we welcome aaron eight and abby martin to be terrific hosts on the our team network . it's going to give you a different perspective give me one stock tip i'll never i'll give you the information you make the decision don't worry about it i'll bring you the sub work of the mind it's a revolution of ideas and consciousness. with the system extremely all if you would be described as angry i think in a strong. single. live . live. live . live. in effect that means you can jump in anytime you want. welcome back with me for tonight's big picture politics panel are sam sax and ben cohen guys let's g
the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive games and until they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to be a myth. all right more of tonight's big picture politics panel right after the break. to. see. if....
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Mar 6, 2014
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their plan called for the deficit $819 billion in 2013. what was the deficit for 2013? >> $680 billion. >> well, that is much less than what simpson bowles projected sit not? >> it is. >> so last year, 2013, president obama exceeded the deficit reduction goal of simpson bowles of $139 billion. am i correct? >> yes, sir. >> yes, sir i would have to look at what numbers they have at what years. >> do you know what the number will be? >> it is 2016 and it will be 531. gee have to look at these numbers. give the president and this administration some credit. i have been pretty tough on them. give them some cd. they did something else. they did something that bass wa positionti positive. but you are never going to give any credit to anybody except the pat on the back at the christmas party. superintendant th isn't that wonderful? >> does this plan raise the age for social security? >> no, sir. >> does it change the measure of inflation for social security? >> so this administration has managed to reduce the deficit in 2013 below bowles simpson to social security. >> so now w
their plan called for the deficit $819 billion in 2013. what was the deficit for 2013? >> $680 billion. >> well, that is much less than what simpson bowles projected sit not? >> it is. >> so last year, 2013, president obama exceeded the deficit reduction goal of simpson bowles of $139 billion. am i correct? >> yes, sir. >> yes, sir i would have to look at what numbers they have at what years. >> do you know what the number will be? >> it is 2016...
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Mar 4, 2014
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reducing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the administration projects that economic growth will strengthen over the next several years as the economy continues to return to the full utilization of all its resources. the ongoing recovery will be aided by several factors. the overall shift of fiscal policy towards a more neutral stance, progress in household deleveraging, including gains in housing and stock market wealth and further potential for home building. this near-term recovery is consistent with c.b.o. which projects a similar pace of growth over the next three years. we assume that the g
reducing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the...
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deficit --cting a last year's deficit was $680 billion. that was the first time in four years it was under a trillion. this year's deficit he rejects -- he projects it will be six or $49 billion and dropped to $564 billion. it does not deal with social security, medicare, medicaid programs that are growing me fastest. -- growing the fastest. the chained cpi reduction which year, on the table last something republicans have supported, he offered it only if republicans would agree to increase taxes on the wealthy. it is part of the grand bargain that washington has talked about for years. republicans do not want to go there. from thatled back issue. -- chairmanans have ryan has gone farther in the entitlement area, but it is ,ifficult for the president with his democratic base so type ofto any entitlement reform, unless they see higher taxes on the wealthy. we are in a standoff. spending? about what does he want to spend money on to try to grow the economy? package -- hes a has called it the opportunity growth and security fund. it would hit
deficit --cting a last year's deficit was $680 billion. that was the first time in four years it was under a trillion. this year's deficit he rejects -- he projects it will be six or $49 billion and dropped to $564 billion. it does not deal with social security, medicare, medicaid programs that are growing me fastest. -- growing the fastest. the chained cpi reduction which year, on the table last something republicans have supported, he offered it only if republicans would agree to increase...
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Mar 3, 2014
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i think it is important to put in perspective that the budget deficit is not being driven by spending on domestic programs like this. it is driven by a slow economy. >> certainly entitlements. >> no. >> 60 percent of it. >> alisyn. that was my next point. but this is different from medicare and social security right? you look at the overall budget it is misleading for the republicans to tell the american people if they can get the budget deficit in better shape by cutting programs. it is it a very, very small part of the overall budget. we can always make government work better and i trust paul ryan is coming from an honest point. >> the war on poverty 50 years later. >> last thing you expect to interrupt your grocery shopping right here. >> i thought he was going to stop but he kept on driving through. >> you will learn who is behind the wheel. you will see that in a moment. >> plus matthew mcconaughey injecting faith in hollywood's glamous night. >> first of all i want to thank god. i look up to it him. he graced my life with opportunities that are not of my hand or other human hand
i think it is important to put in perspective that the budget deficit is not being driven by spending on domestic programs like this. it is driven by a slow economy. >> certainly entitlements. >> no. >> 60 percent of it. >> alisyn. that was my next point. but this is different from medicare and social security right? you look at the overall budget it is misleading for the republicans to tell the american people if they can get the budget deficit in better shape by...
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generations without leaving them a mountain of debt. >> woodruff: the 2015 deficit would decline, to $560 billion, but republicans today said the red ink, spending hikes and tax increases mean the plan is dead on arrival. senate minority leader mitch mcconnell. >> rather than put together a constructive blueprint the two parties could use as a jumping off point, to get our economy moving and our fiscal house in order, the president has once again opted for the political stunt for a budget that's more about firing up the base in an election year than about solving the nation's biggest and most persistent long-term challenges >> woodruff: congressman paul ryan, the house budget chair, likewise called the obama plan a disappointment. in a statement, he said: >> woodruff: ryan offered an extensive critique yesterday of federal anti-poverty efforts. he's expected to release a republican budget proposal in the coming weeks. >> woodruff: some of the more notable pieces of the president's proposal, and expected to show up in the republican alternative, are the different approaches to poverty
generations without leaving them a mountain of debt. >> woodruff: the 2015 deficit would decline, to $560 billion, but republicans today said the red ink, spending hikes and tax increases mean the plan is dead on arrival. senate minority leader mitch mcconnell. >> rather than put together a constructive blueprint the two parties could use as a jumping off point, to get our economy moving and our fiscal house in order, the president has once again opted for the political stunt for a...
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the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive big. till they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that and yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to beat them at all right more of tonight's big picture politics panel right after the break. got a code for years that's pretty tough. stay with substory. but if this guy like you would smear that guy stead of working for the people most issues the mainstream media are working for each other bribe writers vision to find . a good writer. if it was a. very hard to take. once again to come on here there's a play by patton that had sex with her thick hair cut this. if it was safe. safe. if . welcome back with me for tonight's big picture politics panel our sam sax and ben cohen guys let's get back to it all right tomorrow is primary day in texas and for the first time in a while democrats actually hav
the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive big. till they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that and yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to beat them at all right more of tonight's big picture politics panel right after the break. got a code...
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Feb 28, 2014
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. >> you have to move in that direct overtime, we have large budget deficits, when we move out to 2018, baby boomers begin to retire if great numbees. lou: why are the republicans having a hard time remembering that it is about reducing will left of spending here? why is that difficult in that document that he put out there, in my opinion, could have come from the obama white house. >> mm-hmm, that is -- how do you curb spending overtime, that is politically unpopular there is the problem. when you talk about changing tax code, people are not go many are not going to are having happy, if they lose tax deductibility of for municipal bonds. lou: i think this document will reside to the sidelines, at the very best. lou: there is really no escaping retal. >> hunl demands to be made of federal government not too many years from now. lou: john lonski thank you, we appreciate it. >> new reports city nationwide are doing away with red light cameras. among concerns about the red lights, what they really amount to, their worth. their invasiveness, what they increase traffic accidents. usage of t
. >> you have to move in that direct overtime, we have large budget deficits, when we move out to 2018, baby boomers begin to retire if great numbees. lou: why are the republicans having a hard time remembering that it is about reducing will left of spending here? why is that difficult in that document that he put out there, in my opinion, could have come from the obama white house. >> mm-hmm, that is -- how do you curb spending overtime, that is politically unpopular there is the...
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at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class, or continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it is here and in the years to come as president. thank you very much, everybody. michael? >> do you have any response to president putin's press conference? is chancellor merkel right that he has lost touch with reality? >> i have not spoken to him since i spoke to him this past weekend. but obviously, me and my national security team have been watching events unfolding in ukraine very closely. i met with them again today. as many of you know, john kerry is in key avenue as we speak, at my direction. as we speak, at my direction, with full support for the ukrainian people. we have been working with our partners and the imf to build support for a package that helps to stabilize ukraine'
at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class, or continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it is here and in the years to come as president. thank you very much, everybody. michael?...
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Mar 5, 2014
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and as a result, the deficit would be better with deficit reduction which is what we are showing in our budget than if you did not have deficit reduction which is what a budget baseline would show. there is some other technical differences between our out your forecasts that are mostly on the revenue side come and not on the spending side. aca is the law of the land. >> do any of the discussions about tax revisions vary from current law? maybe certain expired tax revisions? >> obviously, we have a set of proposals in their. one of the places that is in our -- that is assumed in our budget is that in the 2010 and 2012 budgets, the president extended his increases for the refund ability in the child tax credit the increases in the earned income tax credit for families of three children and more and the marriage penalty and one of the president's innovations was that a portion of that was also refundable. in the budget agreement, those were extended for another five years through 2017. we would assume that those are extended permanently. we believe very strongly in that if those were t
and as a result, the deficit would be better with deficit reduction which is what we are showing in our budget than if you did not have deficit reduction which is what a budget baseline would show. there is some other technical differences between our out your forecasts that are mostly on the revenue side come and not on the spending side. aca is the law of the land. >> do any of the discussions about tax revisions vary from current law? maybe certain expired tax revisions? >>...
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by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually released today, and to are the surrogates that the white house is sending to capitol hill over the next coming days to talk about the president spending plan? 11:30.we will see it at it used to be they handed out copies to the press but that has been curtailed. theave been told that historical perspective volume, usually an interesting economic here this week, will have the main budget all human independent, they will be available at 11:30 and then a noontime press conference. andell from west virginia pretty much well-liked on all sides of the aisle will be going to the h
by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually...
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loophole we can create jobs and grow the economy and expand opportunity without adding a dime to the deficit. >> house budget chairman paul ryan already come out swinging against the plan. yet another disappointment and added the president has three years left in his administration and seems determined to do nothing about our fiscal challenges. that's paul ryan. this budget isn't a serious document he says. will this budget proposal help flagging republican opinion of president obama's track record. we turn now to financeer and former treasury official and cnbc economic analyst steve radener. thank you for being here. >> thanks for having me. >> i wanted to start out with your gut reactions to this. is it the expanded credit for low income workers? >> this is a policy statement of what he believes should happen in the budget, more spending on things like the earned income tax credit which is today's headline but also things like infrastructure and pressing needs. he wanted to put out what he believes in and indeed what the democrats believe in in advance of mid-term elections. >> you have a
loophole we can create jobs and grow the economy and expand opportunity without adding a dime to the deficit. >> house budget chairman paul ryan already come out swinging against the plan. yet another disappointment and added the president has three years left in his administration and seems determined to do nothing about our fiscal challenges. that's paul ryan. this budget isn't a serious document he says. will this budget proposal help flagging republican opinion of president obama's...
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Feb 26, 2014
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they are providing so much money to reduce the deficit. you have a triumvirate of forces reducing the deficit from the outside. then he may, freddie mac, and jpmorgan. i thought -- i think that may continue for a while. cyber security -- you will hear a lot about that. the chances of more data breaches this year are 100%. there will be more and probably will be more as we are sitting here this morning. the chances of a bill are pretty dim. you get the sense that everywhere you look the legislative agenda is looking pretty meager. i don't totally rule out a bill that eric cantor and others are talking about giving tax incentives to companies that hire and train young workers. there could be something like that but i think there will not the a lot. one final thing i want to throw out -- a theme of mine that i have been talking about for the last two or three months -- it leaves me puzzled. here we have an economy that grew in the second half by 3.5% or something like that. that was a rise in gdp and was not all inventory accumulation. inre w
they are providing so much money to reduce the deficit. you have a triumvirate of forces reducing the deficit from the outside. then he may, freddie mac, and jpmorgan. i thought -- i think that may continue for a while. cyber security -- you will hear a lot about that. the chances of more data breaches this year are 100%. there will be more and probably will be more as we are sitting here this morning. the chances of a bill are pretty dim. you get the sense that everywhere you look the...
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so when we think about methamphetamine, think about adderall, adderall is an attention deficit disorder drug that college students take. same drug, nobody's talking about -- >> it's not the same drug. >> it's the exact same drug. the only difference is that methamphetamine has a methyl group attached to it. but we did a study in which we -- along with other people, in which we tested the effects of a drug liked a ral compared to methamphetamine, they produced identical effects. they are almost identical chemically in terms of the chemical structure. they're the same effect. so we have these wildly different narratives surrounding these drugs. and that's what i'm trying to do. i'm trying to stop the hysteria so we don't make the same mistakes. >> we have put the rest of my extended interview on our web si site. it's something we want to do more with. you should watch the whole thing if you have a chance. >>> meanwhile, an absolute contemptible outrage today in washington that almost no one is talking about. we're going to talk about it next. tartar protection rinse. the only rinse that h
so when we think about methamphetamine, think about adderall, adderall is an attention deficit disorder drug that college students take. same drug, nobody's talking about -- >> it's not the same drug. >> it's the exact same drug. the only difference is that methamphetamine has a methyl group attached to it. but we did a study in which we -- along with other people, in which we tested the effects of a drug liked a ral compared to methamphetamine, they produced identical effects. they...
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, could be described as a party that talks about saving money all the time and being concerned with deficits and being totally driven by that but not being concerned in saving money when people are in jail for marijuana and mandatory minimums that judges have said were awful and for nonviolent first time offenders serving lifetime sentences in jail costing us $30,000 a year. >> comcast is running this ad in new jersey where medical marijuana is legal. >> yo, you want sushi? i got sushi. i got tuna, salmon, sweet shrimp. i got the finest this area has seen in years. >> you wouldn't buy your sushi from this guy so why would you buy your marijuana from him? >> did i mention that it's national pancake day. marijuana, pancakes, sushi. >>> benjamin netanyahu stirred up controversial and joining me to talk, comedian and "daily beast" columnist and friend of the show, dean ovadala. let's start with pot. marijuana has been huge this year and the pot jokes are a gold mine, i'm sure, for your profession as a political comedian. >> on some level it is but i think we've jumped the shark on pot. when pat
, could be described as a party that talks about saving money all the time and being concerned with deficits and being totally driven by that but not being concerned in saving money when people are in jail for marijuana and mandatory minimums that judges have said were awful and for nonviolent first time offenders serving lifetime sentences in jail costing us $30,000 a year. >> comcast is running this ad in new jersey where medical marijuana is legal. >> yo, you want sushi? i got...
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Mar 4, 2014
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the president is going to miss an opportunity to deal with the debt and deficit and entitlement reform and all of those things. this president likes his government super sized. this budget will never balance. and i think the president wants taxpayers to pay more so that washington can spend more >> what i read is he is asking for million in new spending. does that go anywhere? >> i don't think it does. last time he had a budget, not even any of the democrats voted for it. his policies make it harder to get back to work. >> $17.4 trillion is the debt clock. that is ridiculous. in three years from now, you will be $19 trillion? how is that acceptable to anybody? trying balance a book in washington, d.c. >> what we will see is the fastest growing part of the budget is interest on the debt. the president added $6.9 trillion in the debt. this continues to be a driving issue for the country. you know, we are not going to be able to sustain the safety net with this debt and interest. >> i think the viewers get it, too. what other republican options do we have? >> the options are to say let's
the president is going to miss an opportunity to deal with the debt and deficit and entitlement reform and all of those things. this president likes his government super sized. this budget will never balance. and i think the president wants taxpayers to pay more so that washington can spend more >> what i read is he is asking for million in new spending. does that go anywhere? >> i don't think it does. last time he had a budget, not even any of the democrats voted for it. his...
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pointing out that under president obama's leadership deficit has been cut in half as a share of the economy the largest four year deficit reduction since the demobilization from world war two and while for all president obama's budget doesn't call for a grand bargain that same fact sheet says that compromise proposals aka social security cuts remain on the table if republicans ever learn to cooperate it's good to see that president obama has the common sense not to cut social security during an election year but if you really wants to leave the steroids era behind us in. stop talking about deficits and start talking about what the government can do right now to rebuild the middle class. all right with me for tonight's big picture politics panel our staff writer for in these times and carl fresh democratic strategist and partner at both great stretch bullfight strategies carl cole welcome so much so guys and i just you know up high in the sky liberal for thinking that the president could do a little bit more this fiscal fiscal year two thousand and fifteen budget i mean he's now well
pointing out that under president obama's leadership deficit has been cut in half as a share of the economy the largest four year deficit reduction since the demobilization from world war two and while for all president obama's budget doesn't call for a grand bargain that same fact sheet says that compromise proposals aka social security cuts remain on the table if republicans ever learn to cooperate it's good to see that president obama has the common sense not to cut social security during an...
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at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class or if we're going to continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it this year and in the years to come as president. thank you very much, everybody. michael? >> do you have any response to president putin's press conference this morning? is chancellor merkel right that he has lost touch with reality? have you spoken to him personally? >> i have not spoken to him since i spoke to him this past weekend. but obviously, me and my national security team have been watching events unfolding in ukraine very closely. i met with them again today. as many of you know, john kerry is in kiev as we speak, at my direction. he's expressing our full support for the ukrainian people. over the past several weeks, we've been working with our partners an
at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class or if we're going to continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it this year and in the years to come as president. thank you very much,...
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we've cut a lot of money, in part, due to the sequester, and it's led to lowering and lowering the deficit. if you put that in the context of what the budget proposal suggests, it's only a modest increase in spend, talking about 56 billion, like you mentioned, split between defense, nondefense, and it's paid for. we established that the budget agreed to by patty murray and paul ryan, those spending levels stay in place, and you'll use a few other tax hike is to par for $56 billion to relieve s sequestrati sequestration. we have a piece coming up that shows nih will be funded at 30.2 billion. that, in real term money, equivalent to the level that george w. bush funded nih in 2002. we're not making people whole. we're lagging pretty badly. but as if you were to look at what republicans are saying, this is the most reckless spending possible. >> sam, on that note, the president say, our budge it is about choices, about values and this is expected to go nowhere, it's a moral document in the most sort of clear fashion from the white house. at the same time, you know, the president puts this out
we've cut a lot of money, in part, due to the sequester, and it's led to lowering and lowering the deficit. if you put that in the context of what the budget proposal suggests, it's only a modest increase in spend, talking about 56 billion, like you mentioned, split between defense, nondefense, and it's paid for. we established that the budget agreed to by patty murray and paul ryan, those spending levels stay in place, and you'll use a few other tax hike is to par for $56 billion to relieve s...
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at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole which allows hedge fund managers to count their investments as income instead of capital gains. many think it faces a long road because of republicans in the house. to walk us through the budget battle, jimmy williams, an opinion writer for u.s. news.com and an msnbc contributor. how are you? >> how are you, hello. >> i want to start with one of the more important things which is that child care tax credit. this is big for people. when you look at the numbers from the white house, you're talking about well over 1.5 million people effected, $600 for a lot of folks with children under five years old. my view
at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole...
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careful to use rhetoric like balanced in there is very careful to talk about the fact that that the deficit as a percentage of the of the national economy would go down by two thousand and twenty four we're in an emergency now and you know i believe in water conservation might but not blame the house on fire i'd like to see and i'd like to see him really talk about our real problems right now get off the deficit rhetoric altogether talk about rebuilding the economy and again i like to see him give tax breaks to people who are struggling to get by i'd like to see him address the issues that are making so many americans illiterate isn't really part of the problem this is a president who believes more in centrists theory of economics than he does progressive theory of economics there's no way we can avoid that there's no way that we can kid ourselves or you know make this notion that this is truly a progressive president he's a reagan i mean the only way i can describe is reagan type democrat and i'm just not saying anything more he still has this thing on the table this thing on the table abo
careful to use rhetoric like balanced in there is very careful to talk about the fact that that the deficit as a percentage of the of the national economy would go down by two thousand and twenty four we're in an emergency now and you know i believe in water conservation might but not blame the house on fire i'd like to see and i'd like to see him really talk about our real problems right now get off the deficit rhetoric altogether talk about rebuilding the economy and again i like to see him...
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Mar 5, 2014
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extra spending by definition adds to the deficit. by the way, to be fair here cbo is saying it will be a billion. but excuse me, 18. >> 8 billion. >> and well, the point is, they are claiming to get the money back eventually once obama care begins to pay off. the money that we spend on tarp spending, most of that money was paid back and there are precedents for companies that receive bail outs and paying back that money. it is anybody's guess. and judging on the basis of how obama care has gone so far, i don't think there is a good odd chance that the money will be paid back. president obama's budget that was released yesterday proposes to give hhs, health and human services now a trillions more. >> it is unbelievable. a trillion dollars would have been the entire budget and throw in the defense and everything. trillion shoes the commitment of the administration to all of the programs for the poor. we haven't seen an administration fund this much and spend this much money in the transfer payments is what we call the money with food s
extra spending by definition adds to the deficit. by the way, to be fair here cbo is saying it will be a billion. but excuse me, 18. >> 8 billion. >> and well, the point is, they are claiming to get the money back eventually once obama care begins to pay off. the money that we spend on tarp spending, most of that money was paid back and there are precedents for companies that receive bail outs and paying back that money. it is anybody's guess. and judging on the basis of how obama...
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Mar 2, 2014
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in other words, there was a slight decrease in the deficit. you would hope there would be a significant one. but the only reason there was was because he had a provision in there about a more accurate measure of inflation under the cpi and social security. we now hear that he's actually going to take that out of the budget at a time when social security has a $63 billion shortfall every year, at a time again when we're told by this nonpart sap congressional budget office things are getting worse, not better. so if he takes that out as apparently he'll do businessed on the leaks because it's partisan political year, he's not going to have any can he have deficit reduction. so if that is true, boy, again, this is not responsible.he have deficit reduction. so if that is true, boy, again, this is not responsible. this is not responsive to what is really happening. >> let me bring in congressman van hollen. what we're talking about by far the biggest part of the budget and that is entitlements. last year as part of the budget, the president include
in other words, there was a slight decrease in the deficit. you would hope there would be a significant one. but the only reason there was was because he had a provision in there about a more accurate measure of inflation under the cpi and social security. we now hear that he's actually going to take that out of the budget at a time when social security has a $63 billion shortfall every year, at a time again when we're told by this nonpart sap congressional budget office things are getting...
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Mar 5, 2014
03/14
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he cuts the military greatly in my opinion not for deficit reduction but for more domestic spending. it just shows the priorities have moved farther to the left and the point i'm trying to make here we have three years left of this administration and we have divided government. normally in a situation like that you would try to fine common ground, work forward common ground. he's moving away from that and tacked hard to the left. yes you could say that's because we're in an election year and that may be why. it's happening nevertheless. i don't know the reasons but he's moving to the left and it makes it hard to bridge to the gap. >> democrats will say they have tried to extend a hand and have not been reciprocated. >> we have a budget agreement. i want to see us build on that success. >> give me a preview of what the paul ryan budget will look like. in years past a lot of the saving have come from overhauling medicare and medicaid. are those proposals include in the paul ryan 2015 budget. >> those programs are going bankrupt and need to be restored, need to be solvent believe these
he cuts the military greatly in my opinion not for deficit reduction but for more domestic spending. it just shows the priorities have moved farther to the left and the point i'm trying to make here we have three years left of this administration and we have divided government. normally in a situation like that you would try to fine common ground, work forward common ground. he's moving away from that and tacked hard to the left. yes you could say that's because we're in an election year and...
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Feb 26, 2014
02/14
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, increasing the deficit. so let me say a word about this. unlike many expenditures, including the wars in iraq and afghanistan, the truth is that this bill will not add one penny to the deficit. and let me repeat, this bill will not add one penny to the deficit. the congressional budget office, the nonpartisan scorekeeper, has estimated that mandatory spending in this legislation will total $2.88 billion over the next decade. all of this mandatory spending is completely offset, not by the overseas contingency operations or o.c.o., but through more than $4.2 billion in actual savings from programs within the jurisdiction of the senate veterans' affairs committee. as a result, c.b.o. has determined that overall mandatory spending -- mandatory spending in this bill will be reduced, will be reduced, by more than $1.3 billion. in addie mandatory spending, this bill authorizes $18.3 billion in discretionary spending over the next five years to improve the lives of our nation's veterans and their families. mr. presi
, increasing the deficit. so let me say a word about this. unlike many expenditures, including the wars in iraq and afghanistan, the truth is that this bill will not add one penny to the deficit. and let me repeat, this bill will not add one penny to the deficit. the congressional budget office, the nonpartisan scorekeeper, has estimated that mandatory spending in this legislation will total $2.88 billion over the next decade. all of this mandatory spending is completely offset, not by the...
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five trillion left over we could cover the cost of that pesky five hundred fourteen billion dollars deficit and still have more than four trillion left over so we can pay off the two trillion dollars we need to spend to bring our national infrastructure back where it was before the beginning of the reagan revolution and then we could spend another trillion dollars to pay off every student loan debt in america. it'll actual infrastructure and still have a trillion dollars left over to build a national broadband system that would bring us up to the standards of france or south korea we spend money on war we cannot spend that money on improving things at home for far too long we spend far too much money on a war and not enough on our so-called homeland as well haggard says it's time to put america first. with me for tonight's big picture politics panel are marc harrold libertarian commentator sweet progressive commentator and michael bass stache reporter at the daily caller thanks to all for joining us michael welcome panel first time expressing your name right yeah you did you good good thank
five trillion left over we could cover the cost of that pesky five hundred fourteen billion dollars deficit and still have more than four trillion left over so we can pay off the two trillion dollars we need to spend to bring our national infrastructure back where it was before the beginning of the reagan revolution and then we could spend another trillion dollars to pay off every student loan debt in america. it'll actual infrastructure and still have a trillion dollars left over to build a...
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Mar 5, 2014
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they talk about obsessions with deficits and debt. and then they refuse to raise revenue in any form or fashion. >> advertisement reform with the chained cpi last year. they don't back him when he is trying to do what they say they want to do. >> they predicate their position on ignorance. and nobody actually calling them out. i mean, the sound that you played at the beginning of this segment, that's the -- that's all you need to know about the republican party. on the one hand, on the other hand. and in the meantime, if you ever ask them for a meaningful piece of policy, of governable policy, they have nothing. >> you know the guy's running around a big arena, trying to get to the farthest right. well, they always want to be the hardest rail to the right. take a look at lindsey graham here, who seems oftentimes a reasonable guy, but he is so scared of looking reasonable because it will get him killed in south carolina. on twitter he wrote today, isn't it original? it started with benghazi. when you kill americans and nobody pays a pr
they talk about obsessions with deficits and debt. and then they refuse to raise revenue in any form or fashion. >> advertisement reform with the chained cpi last year. they don't back him when he is trying to do what they say they want to do. >> they predicate their position on ignorance. and nobody actually calling them out. i mean, the sound that you played at the beginning of this segment, that's the -- that's all you need to know about the republican party. on the one hand, on...
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Mar 3, 2014
03/14
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here we see a budget deficit falling sharply. i'll pick on the cbo since everybody picks on the cbo. i thought their receipt estimates for next two or three years were a little stingy, but no matter how you slice it the deficit as percentage of gdp is headed below 3% in the next year or two. you see all this good news. yet no one in this city wants to acknowledge it or take credit for it. it is damnest thing i ever have seen. let me fin wish a comment on three sources in this city that seem unwilling to acknowledge the fact that things have gotten better. you have to ask the question, could this be a self-fulfilling prophecy? first and foremost, not surprisingly is the media. i have some friend here in the press but media feels you can sell more newspapers and get better ratings when you talk about the negative. during the holidays, my blood pressure spiked about 20 points. i saw two stories talking about the recession as if it were still underway. well, for christ's sake the recession ended in june of 09 yet you still hear in th
here we see a budget deficit falling sharply. i'll pick on the cbo since everybody picks on the cbo. i thought their receipt estimates for next two or three years were a little stingy, but no matter how you slice it the deficit as percentage of gdp is headed below 3% in the next year or two. you see all this good news. yet no one in this city wants to acknowledge it or take credit for it. it is damnest thing i ever have seen. let me fin wish a comment on three sources in this city that seem...
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Mar 5, 2014
03/14
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obama says the budget deficit will decline to five hundred sixty four billion dollars the lowest level in his presidency. we go to the side of the road you squeeze the middle class or for going to continue to reduce the deficit is responsible for all taking steps to grow and strengthen the middle class. republican house speaker john bain are strongly criticized the draft he said it was the most irresponsible. he said it would only increase spending and borrowing expanded governments and hurt the economy. a ban on exports of raw materials has pushed indonesia's trade balance into the red for the first time in three months indonesian officials say the trade deficit in january came to about four hundred thirty million dollars exports of about fourteen point four billion dollars compared with imports of fourteen point nine billion dollars. the country has long earn foreign currency by exploiting natural resources and mining law they came into effect in january slowed overseas shipments beloved and exports of nickel copper and other minerals that have not been processed. the idea is to enco
obama says the budget deficit will decline to five hundred sixty four billion dollars the lowest level in his presidency. we go to the side of the road you squeeze the middle class or for going to continue to reduce the deficit is responsible for all taking steps to grow and strengthen the middle class. republican house speaker john bain are strongly criticized the draft he said it was the most irresponsible. he said it would only increase spending and borrowing expanded governments and hurt...
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Mar 6, 2014
03/14
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the deficit is a problem, no question about it. we've made good progress on the deficit. i would posit the number one problem facing america is the decline of middle class incomes. it affects our economy in so many ways. it affects our politics. it affects our whole way of being as americans. doing the kinds of things you have done in the budget, both in terms of tax, such as the earned american opportunity tax credit, the provision that i helped author and worked with you to extend, making it permanent is great. the child tax credit and on the spending side i know is not your department, but doing investments and infrastructure and education and research. those are the ways to get the middle class moving again and have my highest priority. i have a couple of questions here on specifics. the first is on the as pire act. i know the chairman mentioned it in his opening remarks. it's so important because one of the greatest block is savings and assets to many americans. 19 appearance of new york households and 31 appearance of households nationwide have no savings account. t
the deficit is a problem, no question about it. we've made good progress on the deficit. i would posit the number one problem facing america is the decline of middle class incomes. it affects our economy in so many ways. it affects our politics. it affects our whole way of being as americans. doing the kinds of things you have done in the budget, both in terms of tax, such as the earned american opportunity tax credit, the provision that i helped author and worked with you to extend, making it...
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Mar 5, 2014
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what is the deficit number in this proposal and define the two. >> guest: deficits are how much the government spends minus how much they raise in revenue. and they are measured in percentage of economy activity. it is around 4% and coming down fast. i think it is estimated to end around 3% and in the 2's next year so that is a big decline from 2010 where it was 10%. so that is progress. as long as the economy is growing faster than 2%, it will be a decline. every year you spend more than you have, and borrow money and that adds to the debts. so they would come down to a 1.6% gdp. the president will raise taxes on a trillion dollars mainly on wealthy people but some middle class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry
what is the deficit number in this proposal and define the two. >> guest: deficits are how much the government spends minus how much they raise in revenue. and they are measured in percentage of economy activity. it is around 4% and coming down fast. i think it is estimated to end around 3% and in the 2's next year so that is a big decline from 2010 where it was 10%. so that is progress. as long as the economy is growing faster than 2%, it will be a decline. every year you spend more than...
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Mar 5, 2014
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in fiscal year 2009, we achieved a high deficit watermark of $1.4 trillion. that number fell to a still high $680 billion in fiscal year 2013. of the $736 billion of deficit reduction over that five-year span, $670 billion came from increased revenue or taxes and only $66 billion came from reduced outlays. so in terms of budget realizations, rather than promises for the future, less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came from increased revenue. yet the mantra from the administration continues: more revenue and higher taxes along with ever-more spending. one can only wonder where job creation falls into the mix, if it does at all. since president obama came into office, we've heard a lot of talk about his laser-like focus on job creation. however, the record of this administration suggests that this focus is more on growing government than on growing our economy. we've seen the failed stimulus, obamacare, and initiatives like dodd-frank, all of which have expanded the size and scope of th
in fiscal year 2009, we achieved a high deficit watermark of $1.4 trillion. that number fell to a still high $680 billion in fiscal year 2013. of the $736 billion of deficit reduction over that five-year span, $670 billion came from increased revenue or taxes and only $66 billion came from reduced outlays. so in terms of budget realizations, rather than promises for the future, less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came...
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Mar 5, 2014
03/14
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you've used it to reduce the deficit. are you going to do that again in your budget in light of all of the attacks that have come onto medicare advantage cuts? >> sure, a couple of things. chain cpi was the president's idea. we never included that. we thought there were better ways to go. it was never a policy we were enamored with. medicare advantage, we have put things in our budget to address the medicare problem. reserve funds to fix medicare advantage, and we've put some of that money from the medicare cuts that pay for obamacare back into the advantage care system. we've always believed in doing that. you take two years toth, and it's a double-digit cut to medicare advantage, which means high premiums for those folks, or just loss of benefits, or we're worried about withdrawing from communities. so i do believe you need to -- you need to fix the medicare advantage problem. and we have proposed that in the past budgets. so you'll see us address that in our budget like we have each of the last few years. the thing tha
you've used it to reduce the deficit. are you going to do that again in your budget in light of all of the attacks that have come onto medicare advantage cuts? >> sure, a couple of things. chain cpi was the president's idea. we never included that. we thought there were better ways to go. it was never a policy we were enamored with. medicare advantage, we have put things in our budget to address the medicare problem. reserve funds to fix medicare advantage, and we've put some of that...
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Feb 27, 2014
02/14
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maya mcginns, a capable observer said using the war gimmick to offset other costs or count toward deficit reduction would send a message to the american public and our investors that we are not serious about controlling the debt. in fact, it would send the message that not only are we not serious, but we're going to try to trick everyone that we're actually doing something productive on the deficit. that's the hyatt of -- height of irresponsibility, close quote. myra mcginns, a director at the committee for responsible federal budget, said that last november. so we're not going to go for this. we're not going to go for this. we're not going to waive the budget in this fashion. it's not going to pass. and it should have been known beforehand when senator sanders and senator reed have sought to push this bill through that it's never going to pass. because there are enough senators in this body have enough strength of will to honor the commitment we made a few weeks ago in the ryan-murray legislation. and we're not going to use some bogus gimmick to justify busting the budget. so the deal is
maya mcginns, a capable observer said using the war gimmick to offset other costs or count toward deficit reduction would send a message to the american public and our investors that we are not serious about controlling the debt. in fact, it would send the message that not only are we not serious, but we're going to try to trick everyone that we're actually doing something productive on the deficit. that's the hyatt of -- height of irresponsibility, close quote. myra mcginns, a director at the...
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Mar 2, 2014
03/14
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we're talking about the deficits at the end of the -- >> i am talking about the deficits. the deficits go up. >> we'll submit a budget in a couple days. >> what were you going to say senator portman? >> no, chris, look, we clearly have a growing debt problem. this is the most predictable crisis in the country. the president refuses to deal it with. if you look at his budget last year, it barely had deficit reduction relative to what would happen otherwise. in other words, there was a slight decrease in the deficit. you would hope there would be a significant one. but the only reason there was was because there was a provision in there about a more accurate measure of inflation under the cpi and social security. we now hear that he's actually going to take that out of the budget at a time when social security has a $63 billion short fall every year at a time again when we were told by this nonpartisan congressional budgets office things are getting worse not better. if he takes that out as he's going to do based on the leaks because it's a partisan political year, he's not
we're talking about the deficits at the end of the -- >> i am talking about the deficits. the deficits go up. >> we'll submit a budget in a couple days. >> what were you going to say senator portman? >> no, chris, look, we clearly have a growing debt problem. this is the most predictable crisis in the country. the president refuses to deal it with. if you look at his budget last year, it barely had deficit reduction relative to what would happen otherwise. in other...
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Mar 6, 2014
03/14
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let's consider the deficit reduction that has occurred since the high deficit watermark achieved in the school year 2009. from the deficit of over $1.4 trillion in net year the deficit fell to a still high $680 billion in fiscal year 2013. of the $736 billion in deficit reduction, $670 billion came from increased revenue and only $66 million came from reduced outlays so in terms of budget realizations rather than promises for the future less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came from increased revenue yet remarkably in the face of that history the administration's insatiable desire for higher taxes leads it to propose more tax hikes along with even more spending. put simply the tax hikes envisioned in the president's budget are not what our struggling economy needs. unfortunately while having pledged to focus like a laser on jobs this administration decided over the last five years to focus on expanding government with a failed stimulus, the affordable care act and initiatives like the dodd-frank act that is growi
let's consider the deficit reduction that has occurred since the high deficit watermark achieved in the school year 2009. from the deficit of over $1.4 trillion in net year the deficit fell to a still high $680 billion in fiscal year 2013. of the $736 billion in deficit reduction, $670 billion came from increased revenue and only $66 million came from reduced outlays so in terms of budget realizations rather than promises for the future less than 9% of the deficit reduction between 2009 and...
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Mar 6, 2014
03/14
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the deficits in terms of our infrastructure. thank you for giving me the opportunity. >> thank you for your answer and i wanted my remaining time to change subjects and go to energy we know that the fossil fuel industry has had a pretty good run things. we continue to leverage billions of dollars in subsidies, special limited partnerships only available to energy projects in depreciation rules in the field seems to be permanently tifton favor of fossil fuels while we continue to pay lip service to the need for lean energy and yet the comparatively meager -- are always temporary and we are is fighting for them. in fact we just lost a bunch of tax credits from last year. i want to ask what this budget does to give meaning to our rhetoric about the meaning to give energy a fighting chance. we know we need to get serious about it in this country. >> we see in the presence budget number of investments in terms of renewables in new energy. you see the investments in r&d in different forms throughout throughout the energy budget as wel
the deficits in terms of our infrastructure. thank you for giving me the opportunity. >> thank you for your answer and i wanted my remaining time to change subjects and go to energy we know that the fossil fuel industry has had a pretty good run things. we continue to leverage billions of dollars in subsidies, special limited partnerships only available to energy projects in depreciation rules in the field seems to be permanently tifton favor of fossil fuels while we continue to pay lip...
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Mar 1, 2014
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if you can run a deficit to go to war, you can run a deficit to take care of the people who fought in it. joining me is the chair of the senate committee on affairs, the senator from vermont. they said the multi-billion dollar bills face to make necessary reforms. what do you say to that? >> i say they're dead wrong and so does virtually every veterans organization in the country representing millions of veterans. chris, what i have learned since i've been chairman of the veterans committee is the cost of war is much deeper and more significant than i think most people know. we're talking about hundreds of thousands of young men and women coming back from iraq and afghanistan with ptsd and tbi. we're talking about 2,300 of you're soldiers who suffered wounds so that they're unable too have babies. we're talking in terms of older veterans, you have women, wives staying home taking care of disabled vets, 24 hours a day, seven days a week who get virtually no kinds of support from the federal government. you're talking about young people who were promised a college education after they l
if you can run a deficit to go to war, you can run a deficit to take care of the people who fought in it. joining me is the chair of the senate committee on affairs, the senator from vermont. they said the multi-billion dollar bills face to make necessary reforms. what do you say to that? >> i say they're dead wrong and so does virtually every veterans organization in the country representing millions of veterans. chris, what i have learned since i've been chairman of the veterans...